Play it again Sam - good post - as with the RED/SLR merger, any merger will have to be agreed by both BOD's. VAU BOD people are very competent and like their MD are ' hard heads ' who know that VAU has a very strong hand .... as does GMD BOD. These BOD's know all the entities in the Leonora district, and there should be no hidden surprises VAU's BOD reputation would be trashed if they agreed to a lopsided merger in GMD favour - whereas Raleigh et al would be lauded ..... - NOT going to happen ! The agreed merger of RED/SLR was opportunistic for both companies - both were floundering and needed a partner - so, love the one you're with. Now VAU does not need a partner - it can grow organically - but with the right 'partner' would be even more successful.
The 'sooner rather than later' merger scenario, would be a win win, as it preserves cash, and allows massive rationalisation of portfolio assets, that would see a major rerate and the creation of a genuine dividend paying long life company ... like NST ??
HOLD looks a conservative point of view when VAU is viewed through the correct lens.
VAU Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
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